Fergus Reid, Chairman of JP Morgan Chase Mutual Funds, Appointed to International Power Group's Financial Advisory Committee

Business Wire, Oct 26, 2006

CELEBRATION, Fla. -- International Power Group, Ltd. (OTCPK: IPWG) has appointed Fergus Reid to the company's Financial Advisory Committee. Reid, chairman of the JP Morgan Chase Mutual Funds and a trustee of the Morgan Stanley Mutual Funds, brings with him 23 years of experience as an investment banker and a wide variety of experience.

"Fergus' extensive experience in investment banking, finance, and board governance will be of great value to the company as it continues with its efforts to bring waste-to-energy technology to municipalities worldwide and in continuing the company's growth as a public company," said Peter Toscano, IPWG President and CEO.

Reid's professional career began in 1959 with Roosevelt & Son, a New York investment banking firm. Through his 14-year tenure, he took on increasing responsibilities, ultimately rising to President and CEO. Reid joined Clark Dodge & Company as the Chairman of its Fixed Income Group and then in 1974 joined Rockefeller Family and Associates. He went on to become the Managing Director of Bernhard Associates, a venture capital firm, in 1982. Reid is also currently Chairman of Lumelite, a manufacturing company specializing in plastics for the automotive, pharmaceutical and cosmetic industries.

Previously, Reid has also been active on the boards of Park Avenue Funds-Chase Manhattan Bank, Dreyfus National Bank and Trust Company, Bradford Trust Company and Allied Marine. Additionally, Reid has been a trustee of the American Museum of National History, South Street Seaport Museum and the Vincent Astor Foundation. He has also served as the chairman of the Hudson River Valley Commission and vice chairman of the NYC Educational Construction Fund. Reid received a B.A. from Yale University and served in the U.S. Army as an Airborne Officer in Germany.

About International Power Group, Ltd.

International Power Group, Ltd. is dedicated to providing multifaceted alternative energy solutions in a sustainable and environmentally friendly manner. Through its subsidiaries, strategically placed around the world, and its strategic partnerships, the Company intends to provide turnkey solutions for waste disposal and electricity and potable water production. The Company intends to establish waste-to-energy facilities to convert commercial, hazardous, organic and toxic wastes into saleable electricity and potable water. IPWG believes it is uniquely positioned to produce revenue from the in-processing of waste and the out-processing of electricity and drinking water, while addressing the growing need for "green" sources of energy.

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FORWARD-LOOKING STATEMENTS: This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and as such, may involve risks and uncertainties. For a discussion of such risks and uncertainties that could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report on Form 10-KSB, as amended, for the most recently ended fiscal year. Forward-looking statements, which are based on certain assumptions and describe future plans, strategies, and expectations, are generally identifiable by the use of words such as "believe," "expect," "intend," "anticipate," "estimate," "project," or similar expressions. These forward- looking statements relate to, among other things, expectations of the business environment in which the Company operates, projections of future performance, potential future performance, perceived opportunities in the market, and statements regarding the Company's mission and vision. The Company's actual results, performance, and achievements may differ materially from the results, performance, and achievements expressed or implied in such forward-looking statements.